MNC Group Invested Again in Migo Worth 302 Billion Rupiah in Series C1 Round

Migo announced that it has completed closing the first round of its C1 series investment worth $20 million (over 302,5 billion Rupiah) from its previous investor, MNC Vision Network, part of the MNC Group. The next round is said to be completed in the coming months.

In a press statement delivered by Migo today (10/2), fresh funds will be dedicated to expanding Migo's network, targeting users with half of Indonesia's population. Then, deepen the technology, and expand to other countries outside Indonesia.

CEO of Migo Indonesia And Connor conveyed, MNC's content has a very strong appeal in the eyes of Migo users and is the largest audience contributor among other partners. Previously, consumers had little ability to access digital content on-demand, now they can enjoy MNC content with rating highest without relying on expensive, slow, and unreliable traditional data connections.

"We've had fruitful collaborations with MNC so far and we're excited to expand that partnership with this investment," said Connor.

MNC Group Chairman Hary Tanoesoedibjo added, “Since I found out about Migo, I always thought they had a very interesting concept. I understand the unique advantages of their distribution platform, which is to deliver data, cheaper, faster and without the usual internet problems. 18 months since starting our strategic collaboration, our view remains unchanged that Migo is uniquely positioned to digitize the traditional TV audience.”

Cooperation between Migo and MNC

Migo's relationship with MNC Vision Networks began with the investment made in September 2021 of $40 million. In this agreement, he also announced the President Director of MNC Vision Networks Ade Tjendra and Marketing Head President Director of MNC Vision Networks Clarissa Tanoesoedibjo as the Board of Commissioners of Migo Indonesia.

Since then, Migo's network reach has now reached 30 million people, with more than 2 million subscribers getting access to digital content. on-demand previously difficult to access via traditional telecommunications networks, and more than 1 million paying subscribers.

Migo's unique data distribution technology is able to deliver data to consumers at less than 1% of the cost of a typical cellular network. This allows Migo customers to download unlimited free data super fast. Take, for example, a feature-length film can be downloaded to a consumer's device in under a minute.

The strategic partnership with MNC Group, enables Migo to offer new and best content to consumers everywhere with smartphones, while deep marketing collaborations are claimed to have succeeded in bringing millions of users into the digital ecosystem. on-demand which was previously limited to the upper class economy segment only.

Presented further, the company is currently developing a new technology for secure direct content transfer, which will turn every customer's device into a part of a high-speed network, effectively extending Migo's reach wherever Migo users go.

"This new feature allows customers to transfer content directly between devices in just 30 seconds, completely without a connection to any external network," concluded Connor.

Me first time present in 2020, it is claimed to currently have more than 1.700 networks spread across Jakarta, Banten and West Java. Its products are micro-subscription packages (sachets) that provide subscribers with access to entertainment content, education, financial products, and other related digital lifestyle services in a local cloud (Migo Download Station/MDS) available at retail locations.

At this network point, it provides a Wi-Fi network that can be connected to devices to download unlimited movie content. Every movie available on Migo takes less than 60 seconds to download. This content can be enjoyed without buffering, consuming internet quota, and advertisements. Users can choose a package that costs IDR 3 per day and the most expensive is IDR 120 for one year. Other options start from seven days, 1 month, 3 months, and 6 months.